The Cash Short and Over ledger account,which records the difference between the total of the cash register tape and the actual cash counted from the register,is:

Question

Quizplus · Accepted Answer

The Cash Short and Over account is typically closed to the Profit and Loss Summary account at the end of the accounting period, as it represents a temporary account used to track discrepancies in cash handling.

The Cash Short and Over Ledger Account,which Records the Difference